| 04 Aug 2007 |
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Developers stamping their mark on the region
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July 2007
Emaar PropertiesEmaar Properties
, the Dubai-based Public Joint Stock Company, is listed on the Dubai Financial Market and is part of the Dow Jones Arabia Titans Index. In October 2006 Emaar PropertiesEmaar Properties has been awarded 'Best Developer in the UAE' for the second consecutive year at the Euromoney Real Estate Awards. EmaarEmaar also won the 'Best Developer in Egypt' award, a reiteration of the company's international expansion strategy of developing luxury master-planned communities in key emerging markets. The awards, voted for by industry peers, took into account factors such as most consistent providers of high quality, profitable real estate projects and innovation as well as individual developments, both recently completed and those at the planning stage.EmaarEmaar has several real estate projects in its primary market of Dubai in various stages of completion. These include Dubai Marina, Arabian Ranches, Emirates Hills, The Meadows, The Springs, The Greens, The Lakes and The Views. The company has witnessed tremendous growth since its inception in 1997 and boasts a rapidly growing tenant base with more than 14,500 homes handed over to satisfied customers to date.
EmaarEmaar has begun construction of its most ambitious project within the UAE, the $20 billion Downtown Burj Dubai development, which comprises Burj DubaiBurj Dubai - stated to be the world's tallest tower when completed in 2008; The Dubai Mall - the world's largest entertainment and shopping mall; The Old Town - a low-rise traditional residences community inspired by Arabian architecture; The Old Town Island; Burj Dubai Square; The Lofts; Burj Dubai Lake Hotel and Serviced Apartments; Burj Dubai Boulevard - a 3.5 km stretch that binds the entire development; man-made lakes; landscaped parks and gardens.
In line with its international expansion strategy, EmaarEmaar has joint ventures and projects across the region covering India, Egypt, Turkey, Morocco, Syria, Pakistan, Tunisia and Saudi Arabia. Major international projects include: Uptown Cairo in Egypt; Boulder Hills, a world-class leisure and residential community in Hyderabad, India; multiple resort projects in Morocco, including Amelkis II & III and Bahia Bay, luxury residential golfing communities; Eighth Gate project in Damascus, the city's first master planned community; and Lakeside in Istanbul, a landmark development for Turkey's cultural and commercial hub.
One of EmaarEmaar
's most recent international developments is that of the 55 million square meters King Abdullah Economic City in the Kingdom of Saudi Arabia. As the single largest private sector investment in the Kingdom of $26.6 billion, the mixed use City will extend along a 35 kilometer shoreline and is strategically located between the two Holy Cities of Makkah and Madina and the commercial hub of Jeddah. The City will create six distinct components a modern world-class Seaport, Industrial District, Financial Island, Education & Healthcare Zone, Resorts and The Residential Area and up to 500,000 employment opportunities.Ven Invest is a visionary Lebanese investment company specialized in venture, acquisitions, and real estate development. Its active role in the Lebanese real estate market, where it imposes its greatest concentration, makes Ven Invest a true believer in the rapid and positive expansion of the Lebanese economy. Established in 2003, the company comprises many insightful shareholders who possess the same foresight for Lebanon's future role in an ever-developing region. The company's leaders are respectable and highly professional people who have reached the pinnacle in their respective fields. Their numerous and commendable achievements are recognized both locally and internationally.
Three highly regarded and prestigious projects-valued at an approximate development cost of $250 million are currently associated with Ven Invest:
Bab el Saray: A Design Suite Hotel in the center of Beirut Central District (BCD), which will be managed by the world-renowned Campbell Gray Hotels (UK)
Port D'Amour: A spectacular, one-of-a-kind beach resort and harbor located in Damour
Wadi Abou Jmil: An upper class, luxurious residential area located in the heart of BCD
Damac PropertiesDamac Properties
is a leading Dubai freehold real estate company that has been referred to be the largest privately owned developer in Dubai. It is a member of the Dubai-based DamacDamac Group (DamacDamac Holding) that was set up in 1982.Damac PropertiesDamac Properties' portfolio of real estate projects has been focused on residential towers in the Dubai Marina (Ocean Heights, Marina Terrace, The Waves), Palm Islands (Palm Springs, Palm Terrace), Jumeirah Lake Towers (Lake View, Lake Terrace), International Media Production Zone [IMPZ]International Media Production Zone [IMPZ] (The Crescent, Lago Vista), Dubai International Financial Centre [DIFC]Dubai International Financial Centre [DIFC] (Park Towers) and the Discover Gardens (Terra Del Sol 1 & 2). Its list of commercial towers can be found in the Technology, Electronic Commerce and Media Free Zone [TECOM]Technology, Electronic Commerce and Media Free Zone [TECOM] (Executive Heights, Smart Heights) and the Dubai Business Bay (XL Tower, Business Tower). DamacDamac has also developed non high-rise buildings in Jumeirah Village South (Emirates Gardens, Emirates Gardens 2) and also expanded its projects into Abu Dhabi with the Dolphon Towers and the Oceanscape.
Wholly owned by the State of Qatar's High Supreme Council for Economic Affairs and Investment, Qatari DiarQatari Diar was established in December 2004 to support Qatar's growing economy and to co-ordinate the country's real estate development priorities. Qatari DiarQatari Diar is responsible for creating and coordinating financially sound property development opportunities that will generate sustainable and tangible socioeconomic benefits.
Qatari DiarQatari Diar's vision is to become the region's most trusted and effective real estate investment company by focusing its value proposition on the creation of quality, well-planned and desirable developments.
as a major regional force in real-estate and property development was confirmed when Shaikh Hamad bin Jassim bin Jaber Al Thani, the First Deputy Prime Minister and Foreign Minister of Qatar and chairman of Qatari DiarQatari Diar officially launched the Lusail Development in December 2005.Covering over 35 square kilometers, accommodating up to 200,000 people and with an estimated budget of $5 billion, Lusail is one of the largest developments in the region.
Qatari DiarQatari Diar aims at providing interested local and foreign property developers with further opportunities to invest in numerous projects in Qatar and the wider region.
Today, the capital of Lebanon is fast reclaiming its prewar reputation as the cultural capital of the Middle East. Beirut is booming with architectural projects by Philippe Starck, Jean Nouvel and other boldface European designers, encouraged by SolidereSolidere.
The biggest project on her drafting table is the rebuilding of the souks designed by French architects Denis Valode and Jean Pistre. A futuristic reinvention of the picturesque market of old, the new souk will preserve the labyrinthine layout of its medieval streets while incorporating restaurants and an IMAX theater.
© Real Estate & Investment Middle East 2007
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